Historic Pound sterling Eritrean nakfa

Pound sterling eritrean nakfa history for February 2024. The highest quote for this month is 19.097 (25/02/2024) and the lowest 19.223 (02/02/2024). The difference between high and low is -0.66.

GBP ERN average rate for February 2024 is 19.02709, the change between 01/02/2024 and 29/02/2024 is +0.25 %.

01 February 20241 GBP = 19.11 ERN
02 February 20241 GBP = 19.19 ERN
05 February 20241 GBP = 19.02 ERN
06 February 20241 GBP = 18.86 ERN
07 February 20241 GBP = 19.00 ERN
08 February 20241 GBP = 19.00 ERN
09 February 20241 GBP = 19.02 ERN
12 February 20241 GBP = 19.02 ERN
13 February 20241 GBP = 19.03 ERN
14 February 20241 GBP = 18.97 ERN
15 February 20241 GBP = 18.92 ERN
16 February 20241 GBP = 18.99 ERN
18 February 20241 GBP = 18.99 ERN
19 February 20241 GBP = 19.01 ERN
20 February 20241 GBP = 18.94 ERN
21 February 20241 GBP = 19.03 ERN
22 February 20241 GBP = 19.02 ERN
23 February 20241 GBP = 19.08 ERN
25 February 20241 GBP = 19.10 ERN
26 February 20241 GBP = 19.07 ERN
27 February 20241 GBP = 19.12 ERN
28 February 20241 GBP = 19.09 ERN
29 February 20241 GBP = 19.06 ERN

08/04/2020: COVID-19 impact on currency circulation

Due to the COVID-19 pandemic, circulation of nakfa banknotes decreased as people relied more on digital transactions.

25/02/2019: Introduction of new nakfa banknotes

Eritrea introduced new banknotes in denominations of 5, 10, 20, 50, and 100 nakfa.

30/10/2018: Currency devaluation

Eritrea devalued the nakfa by 14%, reducing its official exchange rate to 1 USD = 15 ERN.

23/06/2016: Brexit Referendum

The United Kingdom voted to leave the European Union, causing significant uncertainty and volatility in the pound sterling's value.

22/01/2015: Dollarization policy imposed

Eritrea imposed a dollarization policy, making the US dollar the predominant currency for most transactions.

14/11/2005: Currency redenomination

The Eritrean nakfa underwent a redenomination where old nakfa notes were replaced with new nakfa notes in a ratio of 1:1,000.

31/12/1999: Establishment of the Euro

The euro was introduced as an electronic currency, paving the way for the eventual replacement of some national currencies, including the pound.

08/11/1997: Introduction of the Eritrean nakfa

The Eritrean nakfa was introduced as the official currency of Eritrea, replacing the Ethiopian birr.

08/11/1997: Currency exchange rate fixed

The Eritrean nakfa was fixed at an exchange rate of 1 USD = 10 ERN.

16/09/1992: Black Wednesday

The pound sterling experienced a severe drop in value and the UK was forced to withdraw from the European Exchange Rate Mechanism (ERM).

14/02/1971: Decimalization of the Pound

The pound sterling was decimalized, with the old system of pounds, shillings and pence replaced by a decimal currency.

06/12/1921: Currency Separation with Ireland

Following the Anglo-Irish Treaty, Ireland left the United Kingdom and established its own currency, leading to separate pound sterling notes.

21/12/1816: Gold Standard Introduced

The pound sterling was officially placed on the gold standard, meaning it was backed by a fixed amount of gold.

27/07/1694: Bank of England Established

The Bank of England was founded and granted a royal charter, becoming the central bank of England.
GBP ERN January 2024
GBP ERN February 2024
GBP ERN March 2024
GBP ERN April 2024
GBP ERN May 2024
GBP ERN June 2024
GBP ERN July 2024
GBP ERN August 2024
GBP ERN September 2024
GBP ERN October 2024
GBP ERN November 2024
GBP ERN December 2024
GBP ERN January 2025